One of Ben Sherman’s objectives is to strive to increase each customer’s sales and profits. Ben Sherman competitive advantage by anticipating, understanding and satisfying their specific requirements better than their competitors do.
In order for Ben Sherman to increase sales and profits they need to relate their objectives to promotional objectives such as creating and building more awareness, new goods and new companies are often unknown to a market, which basically means promotional efforts must focus on establishing an identity. Ben Sherman must in addition aim to reach more customers. Furthermore, in order for Ben Sherman to gain their objectives which is essentially to increase each customer’s sales and profit, the firm needs to create more interest. Affecting a customer from awareness of a product to making a purchase can present an important challenge. Consumers must first recognize they have a need and requirement before they start to consider a purchase from Ben Sherman.
Furthermore, in order for Ben Sherman to achieve their objectives such as Compelling, High Value-Added Products they need to improve their products in a way that makes the customer pleased when they decide to make a purchase. The company also needs to make more promotional offers to their loyal customers. Ben Sherman must also locate their goods in a well known area to attract rich customers that are willing to pay a large amount of money for luxury items. Places, products and the type of promotion used reflect the price of the product.
Furthermore, the company (Ben Sherman) must in addition provide more information regarding the products and services they provide. Some promotion is designed to help customers in the search stage of the purchasing process which is another part of the 8Ps marketing mix (process). It is very important to explain what the product is and who designed it for example designer and materials used. This will essentially assist to achieve the company’s objectives. In other circumstances, where the goods compete in an existing market, informational promotion may be used to assist with a product positioning strategy. Marketers may use promotional means, as well as direct comparisons with competitor’s goods, in an effort to get consumers to distinguish the marketer’s product from those of competitors.
Ben Sherman We will give marketing priority to brands, market positions, product classifications, retail sectors, consumer groups, and specific customers that offers the best prospect for their products and services to distinguish themselves from commodity-priced competition. The marketing mix plays an important role to help the company gain their objectives. The company must answer the following questions in order to gain more sales in the future:-
Products
- What does the customer want from the product and what needs does it satisfy?
- What features does it have to meet the customer’s requirements?
- How is the product different to other products purchased from different organisations?
Price
- What is the value of the product or service to the buyer?
- How will Ben Sherman’s pricing compare with their competitors?
- What discount should Ben Sherman offer to satisfy their loyal customers?
Place
- What do Ben Sherman’s competitors perform and how can the company learn from the difference?
Promotion
- How do your competitors do their promotions? And how does that influence your choice of promotional activity?
- Where and when can you get across your marketing messages to your target market?
- When is the best time to promote? Is there seasonality in the market? Are there any wider environmental issues that suggest or dictate the timing of your market launch, or the timing of subsequent promotions?
Superior People and Organization (Ben Sherman’s objective)
Success in Ben Sherman’s increasingly faster moving, Ben Sherman needs to recruiting and retaining talented, motivated people and empowering them to decide and act. Ben Sherman should train and recruit the staff to offer a high standard of customer service. In order for Ben Sherman to gain this objective, the company needs to train their staff as soon as they start working or perhaps while the induction. Employing the correct staff and training them correctly in the delivery of their service is necessary if the Ben Sherman wants to attain a form of competitive advantage. Consumers make judgements and deliver an opinion of the service based on the employees they cooperate with. Employees should have the suitable interpersonal skills, approach, and service knowledge to supply the service that consumers are paying for particularly in an expense store that sells Ben Sherman’s product. By recruiting the right staff, Ben Sherman will certainly achieve their objectives.
Ben Sherman must reinforce the Brand in order to gain their objectives. When a purchase is completed, the marketing department for Ben Sherman can use promotion to assist and help build a strong connection that can lead to the purchaser becoming a loyal customer for Ben Sherman’s company. For example, several retail stores in the UK now ask for a customer’s email address so that follow-up emails containing additional product information or even to buy other goods from the retailer can be sent in order to strengthen the customer-marketer relationship.
